Power Metal Resources plc has identified additional multiple “significant” uranium targets at another two of its 17 projects in and around the Athabasca basin, Saskatchewan. CLEARWATER The findings, from the unmanned aerial vehicle magnetic geophysics surveys covering Clearwater and Cook Lake, are from the company’s 2023 exploration programme across its 1,012km2 portfolio. At Clearwater, the survey focused […]
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Capricorn agrees Catcher-Kraken sale payments
Capricorn Energy plc has agreed the final settlement of payment terms from the sale of its previous assets in the Catcher and Kraken fields to Waldorf Production UK plc. CASH FLOWS Under revised terms, Capricorn will now receive $72.5 million over the next 13 months and Waldorf’s 25% non-operated working interest in the Columbus gas […]
Wressle oil production rate increases with EA approval
Europa Oil & Gas (Holdings) plc said that pump and production rates had been increased with Environment Agency approval at the Wressle onshore joint venture. OPTIMISE Partners in PEDL180/182 comprise Europa (30% economic interest) Union Jack Oil plc (40%) and operator Egdon Resources plc (30%). The EA permits allow the company to handle higher volumes […]
Horizonte confirms chairman and interim CEO
Horizonte Minerals plc today confirmed Paul Smith as a non-executive director and chair and Karim Nasr as an executive director and interim chief executive, effective immediately. Both were previously proposed as part of changes following board resignations including former CEO and company co-founder Jeremy Martin. Mr Nasr has temporarily stepped down from his day-to-day executive […]
EnQuest NED resigns due to EU law
EnQuest plc non-executive director and senior independent director Karina Litvack has resigned due to an “unexpected conflict” arising through EU laws. The company said that the bloc’s “unbundling directive” prohibited any director of a European power transmission company from also serving on the board of an upstream operator. Ms Litvack, who was appointed to the […]
Serica secures new $525m loan with $1bn potential
Serica Energy plc has signed a new US$525 million secured reserves based lending facility, with the potential to double the figure to more than $1 billion. QUALITY The new transaction simplifies the company’s financing arrangement by replacing the existing RBL and junior facilities with a single facility. The existing RBL facility has $271m drawn and […]